Slide 1: Lindab Group Q2 report 2023
For a better climate TM Lindab Group Q2 report 2023 21 July 2023 Ola Ringdahl President & CEO Lars Ynner CFO
Slide 2: Q2 highlights
Q2 highlights High sales in the quarter Q2/23 Q2/22 • Sales growth of 6%, mainly driven by acquisitions. • Felderer, R-Vent, Muncholm, Liftasud and Irish Ventilation are the main contributors to the Sales (SEK m) 3,365 3,171 acquired growth. Organic growth -13% +14% • Highest quarterly sales ever fo
Slide 3: Strong sales in Ventilation Systems, driven by acquisitions
Strong sales in Ventilation Systems, driven by acquisitions Sales per quarter, SEK m SEK m Ventilation Systems SEK m Lindab Group SEK m Profile Systems Sales, SEK m Comparison numbers exclude the divested business area Building Systems.
Slide 4: Ventilation Systems above 10% operating margin YTD
Ventilation Systems above 10% operating margin YTD Adj. EBIT per quarter and R12 months SEK m Ventilation Systems % SEK m Lindab Group % SEK m Profile Systems % Adj. EBIT, SEK m Adj. EBIT, R12 months, % Comparison numbers exclude the divested business area Building Systems.
Slide 5: Strong cash flow supports continued growth
Strong cash flow supports continued growth Strong cash flow • Cash flow from operating activities increased to Cash flow from operating activities 323 SEK m SEK 323 m (161) in Q2. • The change in working capital was mainly related to less capital tied up in stock. Net debt / EBITDA 2.0 • Free cash f
Slide 6: Building a stronger Lindab
Building a stronger Lindab 6
Slide 7: A leading European ventilation company
A leading European ventilation company Total sales, Lindab Group SEK m 14000 Major increase in ventilation revenue 12000 and share of total 28% 10000 sales since 2019. 14% +56% 8000 25% 6000 72% 4000 2000 61% 0 2019 2023 Q2 R12 Ventilation Systems Profile Systems Building Systems 7
Slide 8: Major geographic diversification
Major geographic diversification Sales, Business area Ventilation Systems SEK m Ventilation sales – YTD June 6000 9% 5000 10% 4000 53% 14% 11% 3000 55% 43% 43% 2000 35% 40% 1000 44% 33% 0 2022 H1 2023 H1 Nordic Western Europe Central Europe Other 8
Slide 9: Acquisitions of high-quality companies
Acquisitions of high-quality companies • Four acquisitions in 2023, two in Q1 and two in Q2. • 21 acquisitions in total since 2020, adding SEK 2.7 billion in revenue. • Divestment of SEK 1.3 billion in revenue during 2020-2022. Acquired revenue per business area, since 2020 MSEK 2500 2000 1500 1000
Slide 10: Investments to increase efficiency, capacity and safety
Investments to increase efficiency, capacity and safety • SEK 108 m (99) invested in Q2, with attractive payback. • The current investment program will continue until 2025. • Focus on increased automation, expansion of capacity and improved safety. • Investment in renewable energy for Lindab’s produ
Slide 11: Lindab first in the world with ventilation ducts in fossil-free steel
Lindab first in the world with ventilation ducts in fossil-free steel • As one of few companies in the world, Lindab will receive a test delivery of fossil-free steel from SSAB this year. • Lindab will offer selected customers a limited number of ventilation and building construction products made f
Slide 12: Outlook & Priorities
Outlook & Priorities Market outlook • The demand for ventilation systems is stable in most parts of Europe. • Profile Systems has high exposure to the Swedish market where new construction has slowed down. • The ventilation market has shown more stability due to increased renovation and demand for e
Slide 13: Thank you! Questions?
©lLindab’ Thank you! Questions?